{"id":58803,"date":"2017-12-13T09:00:00","date_gmt":"2017-12-13T13:00:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/english-less-than-10-of-small-business-workers-in-top-hispanic-metro-areas-have-access-to-employer-sponsored-retirement-plans\/"},"modified":"2017-12-13T17:10:48","modified_gmt":"2017-12-13T21:10:48","slug":"menos-del-10-por-ciento-de-los-trabajadores-de-pequenas-empresas-en-las-principales-zonas-metropolitanas-hispanas-tienen-acceso-a-planes-de-jubilacion-patrocinados-por-sus-empleadores","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/menos-del-10-por-ciento-de-los-trabajadores-de-pequenas-empresas-en-las-principales-zonas-metropolitanas-hispanas-tienen-acceso-a-planes-de-jubilacion-patrocinados-por-sus-empleadores\/","title":{"rendered":"Less Than 10% of Small Business Workers in Top Hispanic Metro Areas Have Access to Employer-Sponsored Retirement Plans"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[ \/* Style Definitions *\/ span.prnews_span { font-size:8pt; font-family:\"Arial\"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:\"Arial\"; color:black; } p.prnews_p { font-size:0.62em; font-family:\"Arial\"; color:black; margin:0in; } ]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Dec. 13, 2017<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; More than 90% of small business workers in the five top Hispanic metro areas of <span class=\"xn-location\">the United States<\/span> do not have access to employer-sponsored retirement savings accounts, according to the study published by Finhabits: <a href=\"https:\/\/docsend.com\/view\/bxfqwhm\" target=\"_blank\" rel=\"nofollow noopener\"><i>2017 Latino Small Business Workers Lack Retirement Savings<\/i><\/a>, released today. The study found a significant ethnic gap. In addition, states with the largest concentration of Hispanic residents had the lowest participation in retirement savings. <span class=\"xn-location\">Texas<\/span>, <span class=\"xn-location\">Arizona<\/span>, <span class=\"xn-location\">New Mexico<\/span> and <span class=\"xn-location\">Florida<\/span> are among the states with the lowest participation rate (under 25 percent) overall.<\/p>\n<p>The <i>2017 Latino Small Business Workers Lack Retirement Savings<\/i> study takes a comprehensive bottoms up look at employer and employee retirement health in the U.S. small businesses segment, representing 37,563,000 full-time, private sector workers &#8211; 1\/3 of the U.S. workforce, and 5,486,000 businesses with fewer than 100 employees.<\/p>\n<p>&#8220;We have a retirement savings problem in the U.S. and the data clearly shows a wealth savings gap with Hispanics working at small businesses,&#8221; said <span class=\"xn-person\">Carlos Garcia<\/span>, the founder and CEO of <a href=\"http:\/\/finhabits.com\">Finhabits<\/a>. &#8220;Our analysis found a moderate and troubling correlation between retirement savings and the Hispanic population of a city. This will have a long-term impact on the quality of life and the economy. We need more aggressive retirement education aimed at the Hispanic community and need to leverage technology to enable them to invest in their future easily even when they do not have access to 401(k)s.&#8221;<\/p>\n<div id=\"prni_dvprnejpg1790left\" style=\"text-align: left; width: 100%;\"><img decoding=\"async\" id=\"prnejpg1790left\" title=\"Finhabits_table_eng_Infographic\" src=\"https:\/\/mma.prnewswire.com\/media\/619000\/Finhabits_table_eng_Infographic.jpg\" alt=\"Finhabits_table_eng_Infographic\" align=\"middle\" border=\"0\" \/><\/div>\n<div id=\"prni_dvprnejpg924aleft\" style=\"text-align: left; width: 100%;\"><img decoding=\"async\" id=\"prnejpg924aleft\" title=\"Finhabits_report_state_maps_eng_Infographic\" src=\"https:\/\/mma.prnewswire.com\/media\/618997\/Finhabits_report_state_maps_eng_Infographic.jpg \" alt=\"Finhabits_report_state_maps_eng_Infographic\" align=\"middle\" border=\"0\" \/><\/div>\n<p><b>Key Findings of the 2017 Latino Small Business Workers Lack Retirement Savings Study<\/b><\/p>\n<ul type=\"disc\">\n<li><b>401(k)s are not readily available for small business employees<\/b> \u2013 The study found in the five most Hispanic metro areas only an average of 4 percent of companies with less than 100 employees offered a 401(k). Even in the least Hispanic areas, access was only 11 percent.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li><b>Southern states are the worst for small business employee retirement savings<\/b> \u2013 <span class=\"xn-location\">Arizona<\/span>, <span class=\"xn-location\">New Mexico<\/span>, <span class=\"xn-location\">Florida<\/span>, and <span class=\"xn-location\">Texas<\/span> all have Hispanic population levels above 20 percent and are among the states where employees, (1) have less access to a plan through their employer and (2) are also least likely to be saving for retirement.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li><b>Hispanic Retirement Savings Gap<\/b> \u2013 The study found that cities with a higher Hispanic population have a lower number of employees saving for retirement. Tellingly, the metro areas with the largest Hispanic populations average less than one third of employees saving for retirement compared to the five metro areas with the smallest Hispanic populations (11 percent vs. 35 percent).<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li><b><span class=\"xn-location\">Connecticut<\/span> is the best state for small business employee retirement savings<\/b> \u2013 Finhabits found that 41.9 percent of small business employees in <span class=\"xn-location\">Connecticut<\/span> had a retirement plan.<\/li>\n<\/ul>\n<p>For additional information on the study or to download the whitepaper, visit <a href=\"https:\/\/docsend.com\/view\/bxfqwhm\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/docsend.com\/view\/bxfqwhm<\/a><\/p>\n<p><b>Methodology<\/b><br \/>\nThe data in this study was compiled by Finhabits from the United States Census Bureau 2015 SUSB report to create the total universe of businesses and employees, the Department of Labor 2015 Form 5500 dataset to create the Defined Contribution (DC) participation universe, and Pew Research Center data on demographic and economic profiles of Hispanics by state and county to define Metropolitan Areas. For the purposes of this paper businesses with more than 100 employees were excluded from the total universe from the SUSB report and businesses with DC plans with more than 100 participants were excluded from the DC participation universe. This report does not include participation in IRAs. The number of employees per business includes both full- and part-time workers whose payroll was reported under the specific organization&#8217;s IRS Form(s) but excludes leased employees whose payroll was filled under an employee leasing company&#8217;s EIN and temporary staffing. The total universe of businesses represents private companies and excludes the public sector. Businesses operating without an EIN, and businesses with an EIN but without employees, are excluded from the SUSB universe.<\/p>\n<p><b>About Finhabits<\/b><br \/>\nFinhabits Advisors is an SEC-registered digital investment advisor that helps people develop the habit of investing for their future by combining fiduciary advice with behavioral nudges. The bilingual, mobile-first platform allows users to set up Roth and Traditional IRAs, as well as individual investment accounts from a computer or smartphone, in just a few minutes \u2014 making it easy for anyone to start building wealth for their future. For more information, visit finhabits.com.<\/p>\n<p>This is not an offer or solicitation to buy or sell securities. Investing involves risk. Brokerage services are provided by Apex Clearing Corporation, member of FINRA\/SIPC.<\/p>\n<p>All trademarks are the property of their respective owners.<\/p>\n<p><b>Media Contact<\/b><br \/>\n<span class=\"xn-person\">Adal Gutierrez<\/span><br \/>\nFinhabits<br \/>\n<a href=\"mailto:press@finhabits.com\" target=\"_blank\" rel=\"nofollow noopener\">press@finhabits.com<\/a><\/p>\n<p>Photo &#8211; <a href=\"https:\/\/mma.prnewswire.com\/media\/619000\/Finhabits_table_eng_Infographic.jpg\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/mma.prnewswire.com\/media\/619000\/Finhabits_table_eng_Infographic.jpg<\/a><br \/>\nPhoto &#8211; <a href=\"https:\/\/mma.prnewswire.com\/media\/618997\/Finhabits_report_state_maps_eng_Infographic.jpg\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/mma.prnewswire.com\/media\/618997\/Finhabits_report_state_maps_eng_Infographic.jpg<\/a><\/p>\n<p>SOURCE Finhabits<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Dec. 13, 2017<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; More than 90% of small business workers in the five top Hispanic metro areas of <span class=\"xn-location\">the United States<\/span> do not have access to employer-sponsored retirement savings accounts, according to the study published by Finhabits: <a target=\"_blank\" href=\"https:\/\/docsend.com\/view\/bxfqwhm\" rel=\"nofollow\"><i>2017 Latino Small Business Workers Lack Retirement Savings<\/i><\/a>, released today. The study found a significant ethnic&#8230;<\/p>\n","protected":false},"author":1,"featured_media":58804,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-58803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/58803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=58803"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/58803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/58804"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=58803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=58803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=58803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}